Discussion

Note: I need 250-300 words response of the following discussion. Must include 1-2 references in APA.  Must address each and every thing in the instructions properly. Your Answer must be 100% original.

There are many types of risk that come into play during the audit process. Describe the following four main risks:

·         Business risk

·         Financial reporting risk

·         Engagement risk

·         Audit risk

In your each of your descriptions, provide at least 1 example scenario, and answer the following:

·         How would each of your examples be mitigated?

·         Which do you feel would be the hardest to mitigate? Why?

·         How does materiality play into the risk analysis?